Indian equity benchmarks witnessed strong buying on June 12, with the Nifty climbing above the 23,600 mark and the Sensex rallying over 1,600 points, aided by easing crude oil prices, a stronger rupee and positive global cues.


Markets cheered signs of de-escalation in the Middle East after reports suggested progress towards a US-Iran agreement, which pushed oil prices lower and improved risk sentiment.

At close, the Sensex was up 1,695.40 points or 2.30 percent at 75,527.95, and the Nifty was up 461.30 points or 1.99 percent at 23,622.90.

For the week, BSE Sensex jumped 1.7 percent and Nifty added 1 percent.

The Indian rupee ended 64 paise higher at 95.11 against the US dollar on Friday, compared with its previous close of 95.75.

The total market capitalisation of BSE-listed companies surged nearly Rs 10 lakh crore to Rs 162.02 lakh crore.

Among the Nifty constituents, Shriram Finance, L&T, InterGlobe Aviation, Bajaj Finance and Titan Company emerged as the top gainers. On the other hand, Nestle India, ONGC, Tech Mahindra, Tata Consumer and SBI Life Insurance ended as the major laggards.

Sectorally, all indices closed in positive territory. Consumer durables, realty, telecom, banking, auto, media, oil & gas and metal indices gained 1-2 percent.

The broader market outperformed the benchmarks, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising more than 2 percent each.

Nearly 100 stocks touched their 52-week high on the BSE, including IFCI, Apar Industries, Aegis Logistics, Sai Life Sciences, Bank of Maharashtra, Caplin Labs, Federal Bank.


JK Bank, JB Chemicals, Aster DM Health, among others. 

Among individual stocks, ESAF Small Finance Bank gained 7 percent after its overall business crossed the Rs 50,000 crore milestone. AVG Logistics rose 5 percent after securing a three-year fleet management contract from Haldiram Nagpur involving 100 vehicles.

Bosch India advanced 4 percent after UBS upgraded the stock to 'Buy', while NLC India added 2 percent after emerging as the preferred bidder for a critical and strategic mineral block. Tata Motors Passenger Vehicles also gained 4 percent following its decision to increase vehicle prices. Motilal Oswal shares jumped 6 percent after UBS initiate ‘buy’ rating on the stock with a target price at Rs 1,150.